The standard homeowners, mobile homeowners, condominium, and renter’s insurance policies do not cover flood loss, and earthquake damage so you must be purchased separately.

Many people assume their residential insurance policy fully protects them, but when you review the typical policy, you will see it does not cover flood loss. In addition, the Federal Emergency Management Agency's (FEMA) maps are important when it comes to flood insurance because if they show that your home sits in a 100-year flood plain, you must buy federal flood insurance to get a mortgage. If you live outside a high-risk zone, or if you no longer have a mortgage, flood insurance is optional.

A flood insurance policy also reimburses you for the work that you and other family members did to sandbag your homes, move furniture, and remove debris.